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Fair Value Measurements (LLC)
6 Months Ended
Jun. 30, 2015
MidAmerican Funding, LLC and Subsidiaries [Domain]  
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]  
Fair Value Disclosures [Text Block]
(7)
Fair Value Measurements

Refer to Note 7 of MidAmerican Energy's Notes to Financial Statements.

MidAmerican Funding's long-term debt is carried at cost on the Consolidated Financial Statements. The fair value of MidAmerican Funding's long-term debt is a Level 2 fair value measurement and has been estimated based upon quoted market prices, where available, or at the present value of future cash flows discounted at rates consistent with comparable maturities with similar credit risks. The carrying value of MidAmerican Funding's variable-rate long-term debt approximates fair value because of the frequent repricing of these instruments at market rates. The following table presents the carrying value and estimated fair value of MidAmerican Funding's long-term debt (in millions):
 
As of June 30, 2015
 
As of December 31, 2014
 
Carrying
Value
 
Fair
Value
 
Carrying
Value
 
Fair
Value
 
 
 
 
 
 
 
 
Long-term debt
$
4,390

 
$
4,886

 
$
4,381

 
$
5,012